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Chinese developers eye price hikes for new high-end projects

But trend is not likely to spill over into broader market due to a glut of unsold homes

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The volume of sales of luxury apartments in Shanghai worth more than 10 million yuan fell 34 per cent last year to 2,246 units, from 3,406 units in 2013, according to real estate research company CRIC. Some 2,243 luxury units were sold in 2012.

Hong Kong

SOME Chinese developers are planning to raise prices for new luxury projects in prime areas this year, in a rare sign of improving sentiment in a market that saw new home prices fall for the last eight months of 2014.

Luxury property sales took a hit last year as China's